RIL exports to cross $10 bn this fiscal: Mukesh

Leading industrial house Reliance Industries (RIL) today said its exports will cross the $10 billion mark this fiscal, while its Chairman Mukesh Ambani reiterated that Special Economic Zones (SEZs) were key to India's future growth.

"...This year Reliance's exports is going to cross $10 billion. Reliance's exports will be Rs 45,000 crore a year...The changes brought about by economic reforms in India have enabled the company to grow and become globally competitive," Ambani said in an interview with a private news channel today.

On the issue of SEZ, Ambani said the current ambiguity in the policy is not going to be a deterrent for corporates to enter it.

"No I don't think so. Ultimately as India progresses we need to create more manufacturing and services jobs," he said when asked if issues like 'social impact assessment' would drive away corporates from investing in SEZs.

Ambani also sought to downplay issues relating to land acquisition for creating SEZs saying, "when you compare the total land that India has and those used for SEZs, it is minuscule." He also insisted that SEZs were aimed at improving the the quality of life of people, not deteriorate, and it would be key to India's future growth.

"Fundamentally, SEZ is employment-led, it attracts capital from across the world and it help them to take advantage of India's huge talent, so that we can create world competitive manufacturing and services job," he said.